Ionel Blănculescu: We are the only country in the world that says 'no' to mining - financiare.ro
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News » January, 2012 » 18 January 2012

Ionel Blănculescu: We are the only country in the world that says 'no' to mining
18.01.2012, 00:00 | Economy | 681 views



The Roşia Montană business, in which Gabriel Resources owns 80.7%, and Minvest owns 19.3%, could generate a return of at least 56% of the total for the Romanian government, calculated for a royalty of 6%, analyst Ionel Blănculescu said in an interview.

The government recently announced the doubling of the royalties for gold, platinum and silver, from 4% to 8% of the value of the output, which could eventually drive the foreign investor away, the analyst says. Other topics discussed with Ionel Blănculescu are the aggressive advertising surrounding the project and the opportunity for the development of businesses related to the mining project.

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